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our very own neil cavuto bringing his fiscal cliff news straight ahead. you're looking at gold, lots of it jumping into gold and silver% as a safe haven. actual bars of gold. help investors get in on the action. melissa: we have been talking about it on fox business, the next great government bailout. going to save the federal housing administration. time for stocks as with every 15 minutes, let's had before the new york stock exchange, nicole petallides standing by. down 13. nicole: this is one of those markets with a lot of anticipation. every focuses on the fiscal cliff. tomorrow is the all-important jobs report for a lot of folks have been hearing more economic news which has been more dismal lately. talk about more layoffs they have seen in november. right now the market is not too far off the unchanged line. the acidity holding 1400. the tech of the nasdaq still below 3000. today apple is now moving into the green and that is one of the reasons why it is holding on to a quarter percent gain. apple $700, 705 in september traded as low as 518 today. c
our very own neil cavuto bringing his fiscal cliff news straight ahead. you're looking at gold, lots of it jumping into gold and silver% as a safe haven. actual bars of gold. help investors get in on the action. melissa: we have been talking about it on fox business, the next great government bailout. going to save the federal housing administration. time for stocks as with every 15 minutes, let's had before the new york stock exchange, nicole petallides standing by. down 13. nicole: this is...
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just 26 days until the fiscal cliff, and a new idea is born. it comes from an unexpected source, howard dean. does the former vermont governor's plan add up? plus, a former u.s. navy sailor charged with attempted espy naj tonight. the alleged benefactor was russia. the war on drugs? have we lost it? let's go "outfront." good evening. a bright idea brought to us by the liberal former governor of vermont, howard dean. the man who brought us the scream heard round the world when he ran for president. yeah! >> dean says let's face it, america. taxes need to go up for everyone. now, this might not be what you expect from someone like howard dean. it's certainly not the president's position or the position of most americans. another new poll out today shows most people like the president's ideas of only raising taxes on other people, specifically the top 2%. individuals making over $200,000 a year or families making over $250,000 a year. the problem is according to the congressional research service, the math doesn't add up. that tax hike would give
just 26 days until the fiscal cliff, and a new idea is born. it comes from an unexpected source, howard dean. does the former vermont governor's plan add up? plus, a former u.s. navy sailor charged with attempted espy naj tonight. the alleged benefactor was russia. the war on drugs? have we lost it? let's go "outfront." good evening. a bright idea brought to us by the liberal former governor of vermont, howard dean. the man who brought us the scream heard round the world when he ran...
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while we're talking to her about the fiscal cliff she gets an e-mail. >> yeah! my first review. okay, great. whoa, okay, that was good news. >> reporter: a third interview for a sales job. if washington can't do t maybe this job will pull her back from the cliff. >> oh, my god, i'm excited right now. >> reporter: kyung lah, cnn, los angel angeles. >>> a record find for one of the world's largest banks, what it's accused of doing with drug cartels and terror groups, coming up. you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. i need you. i feel so alone. but you're not alone. i knew you'd come. like i could stay away. you know i can't do this without you. you'll never have to. you're always there for me. shh! i'll get you a rental car. i could al
while we're talking to her about the fiscal cliff she gets an e-mail. >> yeah! my first review. okay, great. whoa, okay, that was good news. >> reporter: a third interview for a sales job. if washington can't do t maybe this job will pull her back from the cliff. >> oh, my god, i'm excited right now. >> reporter: kyung lah, cnn, los angel angeles. >>> a record find for one of the world's largest banks, what it's accused of doing with drug cartels and terror...
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we have breaking news. this involves fiscal cliff. house speaker john boehner plans to fly home to ohio tomorrow. his spokesperson says, this is a quote. the president has both cell phone numbers and ohio has both cell phone service in the airports. if the president wants to talk to me it won't be a problem. lori: a little snarky. adam: two jilted lovers in a fight. reunited and it feels so good? that was peaches and herb. shibani joshi is talking about how apple is trying to save face with its map debacle and google will do it for them. >> jilted lovers and talking about reuniting, that is what google and apple are doing here. we talked about the sort of backlash apple received after kicking out google maps. google maps unveiling a new app that brings the two together. top download today. 11,500 reviews and four stars. users are in love. i missed you, please don't ever leave again. adam: why is that? >> they scale them. different user interface. there is different coding necessary. it will come. just not out available. adam: why not
we have breaking news. this involves fiscal cliff. house speaker john boehner plans to fly home to ohio tomorrow. his spokesperson says, this is a quote. the president has both cell phone numbers and ohio has both cell phone service in the airports. if the president wants to talk to me it won't be a problem. lori: a little snarky. adam: two jilted lovers in a fight. reunited and it feels so good? that was peaches and herb. shibani joshi is talking about how apple is trying to save face with its...
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. -- captions by vitac -- www.vitac.com >>> "outfront" next, just 25 days until the fiscal cliff and a new idea is born. it comes from an unexpected source. howard dean, does the former vermont's governor's plan add up? plus, a sailor charged with espionage and the war on drugs. we lost it. sir richard branson is "outfront." let's go "outfront." good evening, everyone. i'm erin burnett. "outfront" tonight, a bright idea. brought to us by the liberal former governor of vermont, howard dean. a man who brought us the scream heard around the world when reran for president. dean says let's face it, america, tacks need to go up for everyone. now, this might not be what you expect from someone like howard dean. it's certainly not the president's position or the position of most americans. another new poll out today shows that most people like the president's idea of only raising taxes on other people. specifically, the top 2%. the problem is according to the congressional research service, the math doesn't add up. that tax hike would only give $678 billion in additional revenue over ten yea
. -- captions by vitac -- www.vitac.com >>> "outfront" next, just 25 days until the fiscal cliff and a new idea is born. it comes from an unexpected source. howard dean, does the former vermont's governor's plan add up? plus, a sailor charged with espionage and the war on drugs. we lost it. sir richard branson is "outfront." let's go "outfront." good evening, everyone. i'm erin burnett. "outfront" tonight, a bright idea. brought to us by the...
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. >> federal reserve will keep helping with the economy because of the fiscal cliff situation denting consumer confidence and business confidence so you really need ben bernanke in there. on friday.t news >> unemployment report was better than expected but needs to be better than that. >> buzz in washington about whether susan rice or john kerry will be the next secretary of state and i'm told the president hasn't made up his mind yet and may not make up his mind until january. he wants to get the fiscal cliff business done with so don't be in a rush to await that decision. chris: when we return, the the week, will barack obama's scores in the second term be on foreign policy or here at home? chris: welcome back. syria, egypt and afghanistan are just the foreign policy challenges we already know about russia out china and there which brings us to the big question this week -- will the president's second term triumphs be abroad or here at home? >> i think his second term will be defined by foreign policy and looming confrontation over iran. chris: politco has spoken. >> despite all of
. >> federal reserve will keep helping with the economy because of the fiscal cliff situation denting consumer confidence and business confidence so you really need ben bernanke in there. on friday.t news >> unemployment report was better than expected but needs to be better than that. >> buzz in washington about whether susan rice or john kerry will be the next secretary of state and i'm told the president hasn't made up his mind yet and may not make up his mind until...
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. >> still to come on america's news headquarters, fiscal cliff fiasco. enough about tax rates going up, the outrageous thing virtually no one's talking about is our spending problem. america is $16 trillion in debt and counting. how much does each american -- you! owe? we'll break it dowfnlt regulation nation. the federal government wants to take away people's homes, tear them down and plant grass, all in the name of environmental cleanup. democrats and robberies robberie joined forces to fight back. >> isn't there anyone who know what is christmas is all about? >> everyone loves charlie brown, right? not so fast. the beloved cartoon character is caught up in a war on christmas. i gave birth to my daughter on may 18th, five days later, i had a massive heart attack. bayer aspirin was the first thing the emts gave me. now, i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. [ woman ] learn from my story. >> the holidays are a time for giving and a perfect time to remember those who have hel
. >> still to come on america's news headquarters, fiscal cliff fiasco. enough about tax rates going up, the outrageous thing virtually no one's talking about is our spending problem. america is $16 trillion in debt and counting. how much does each american -- you! owe? we'll break it dowfnlt regulation nation. the federal government wants to take away people's homes, tear them down and plant grass, all in the name of environmental cleanup. democrats and robberies robberie joined forces...
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fiscal cliff. as low as that 2% is. the awful state of the world right now is that is about the fastest growth rate of every advance the country on earth. that tells you exactly why the unemployment rate remains high and it comes down, you know, some as we saw in the jobs data today but not that fast. you know, i would say overall it's just moderately good news. >> austin, obviously you are not talking about china when you made that reference. china's economy. what did it grow at 7.2% recent numbers something like that? it's down a little bit. i will take those numbers. >> official numbers are. >> china growing at much faster rate than we are still with its own challenges. >> a whole lot poorer. starting from a whole lot lower base. of all the advanced country which i wouldn't count china's income is about -- >> laura: their economy is about to surpass ours. among the economists that's not debatable right now. that's getting us off to a different topic. let's focus on job growth in the united states. the new jobs number
fiscal cliff. as low as that 2% is. the awful state of the world right now is that is about the fastest growth rate of every advance the country on earth. that tells you exactly why the unemployment rate remains high and it comes down, you know, some as we saw in the jobs data today but not that fast. you know, i would say overall it's just moderately good news. >> austin, obviously you are not talking about china when you made that reference. china's economy. what did it grow at 7.2%...
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have our replacements for fiscal cliff. please only read the clean ones. >> jason writes, money boo boo. calvin, pricey precipice. i like this one. allen, monetary manhole. >> monetary manhole. we're getting stripper names and other categories we don't want to get into. great show, everyone. "morning joe" starts right now. > ♪ and i'm free ♪ free falling >>> you know, it's a special time of the year. we've been looking forward to it for months now. and everywhere you go, you can see the twinkle in little children's eyes because they know that in just a few short weeks, ♪ the fiscal cliff is coming to town ♪ merry cliffmas. and with a dramatic name like fiscal cliff, it's got to be exciting. jim? >> the president's asking for $1.6 trillion in revenue. >> $600 billion in tax hikes. >> entitlement reform. >> dividends and capital gains. >> discretionary spending. [ cheers and applause ] >> i'm up. what happened? is it over? [ bleep ] >>> good morning. it's wednesday, december 12th. look at that shot of new york city. >
have our replacements for fiscal cliff. please only read the clean ones. >> jason writes, money boo boo. calvin, pricey precipice. i like this one. allen, monetary manhole. >> monetary manhole. we're getting stripper names and other categories we don't want to get into. great show, everyone. "morning joe" starts right now. > ♪ and i'm free ♪ free falling >>> you know, it's a special time of the year. we've been looking forward to it for months now. and...
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cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve the rates going up on the top 2%. >> "the new york times" reports that senior republican leadership aides are contemplating a fall-back position on a fiscal deal. they could foresee taking up and passing legislation this month to extend the tax cuts for the middle class and then resume the bitter fight over spending and taxes as the nation approaches the next hard deadline. it's statutory borrowingç limi which could be reached in late january or february. speaking to a business roundtable, president obama responded to that idea this way. >> if congress in any way suggests that they're going to tie negotiations to debt ceiling votes and take us to the brink of default once again, as part of a budget negotiation, which by the way we have never done in our history until we did this it last year, i will not play that game. >> john boehner and house republican leadership met with small business owners today to
cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve the rates going up on the top 2%. >> "the new york times" reports that senior republican leadership aides are contemplating a fall-back position on a fiscal deal. they could foresee taking up and passing legislation this month to extend the tax cuts for the middle class and then resume the bitter fight over spending and taxes as the nation approaches the next hard deadline. it's statutory...
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fiscal cliff. >> coach ryan has a problem. three quarterbacks. sanchez and tim tebow and a guy by the name of alcorroy. he can't decide who is the quarterback going to be. >> brian: minority leadership mitch mcconnel >> no doubt about who the quarterback is on the democratic side it is the president of the united states . unfortunatelyy he keeps throwing interceptions. and we are moving back ward. >> brian: nfl network all politics. mark san ford will start. he did the sports cast with his hands in the back pocket. since then you are the friend. what is constance up to. >> gretchen: wow, and you get to sit in the center of the couch. >> good to see you. >> gretchen: do you feel an ination. >> brian: that's my normal. >> gretchen: either approximate mine or brian. >> kind of warm and can have they. >> you were going to say small. >> brian: as he said. he has a bigger butt than me. you have something serious though to talk about. not only your great career but something happened in late october that people are forkneting about. >> everybody talked
fiscal cliff. >> coach ryan has a problem. three quarterbacks. sanchez and tim tebow and a guy by the name of alcorroy. he can't decide who is the quarterback going to be. >> brian: minority leadership mitch mcconnel >> no doubt about who the quarterback is on the democratic side it is the president of the united states . unfortunatelyy he keeps throwing interceptions. and we are moving back ward. >> brian: nfl network all politics. mark san ford will start. he did the...
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economy from going off the fiscal cliff in the new year. in fact, most experts believe a framework deal must be reac reached this week, most likely by thursday to give the house, ways and means and the senate finance committee several days to work the deal to legislative language. since it will be complex, likely to increase re-knew and cut entitlement spending if the lawmakers want a cost estimate with nonpartisan numbers from the congressional budget office, it would require several more days. the house g.o.p. requires that the bill be posted for parts of three days which means early next week in order for votes by the end of next week. veterans of past capital hill battles note the whip operation convincing lawmakers to vote for the legislation they barely seen will be critical. >> likely that both sides, the president and the speaker are going to have to twist arms, they are going to have to call people. they are going, you know, do anything they can to push a deal over the line. >> with christmas eve in two weeks, the president, lawmak
economy from going off the fiscal cliff in the new year. in fact, most experts believe a framework deal must be reac reached this week, most likely by thursday to give the house, ways and means and the senate finance committee several days to work the deal to legislative language. since it will be complex, likely to increase re-knew and cut entitlement spending if the lawmakers want a cost estimate with nonpartisan numbers from the congressional budget office, it would require several more...
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fiscal cliff. so big question, do they add up? >>> plus, it has been three months to the day since terrorists attacked the u.s. mission in benghazi. secretary of state hillary clinton says the administration has done everything possible but still, no one has been brought to justice. where do we stand? >>> also, a new hollywood movie highlights the work of a cia analyst credited with tracking down osama bin laden, but here's a big but, it also sheds some very serious light on in-fighting in the spy agency. you got to hear it to believe it. let's go "outfront." >>> i'm ashleigh banfield in tonight for erin burnett. "outfront" tonight, our top developing story, we are just learning now that president obama and the white house or rather, president obama and the house speaker have spoken tonight. good news. this after they each fired another shot in the ongoing fight over how to resolve this fiscal cliff mess. cnn is now getting details about two new offers that were made and previously undisclosed, too
fiscal cliff. so big question, do they add up? >>> plus, it has been three months to the day since terrorists attacked the u.s. mission in benghazi. secretary of state hillary clinton says the administration has done everything possible but still, no one has been brought to justice. where do we stand? >>> also, a new hollywood movie highlights the work of a cia analyst credited with tracking down osama bin laden, but here's a big but, it also sheds some very serious light on...
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. >> virginia congressman randy forge on the president to go over the fiscal cliff. >> gabby douglas on the role of her try iumph. >> governor mike huckabee. >> thank you very much. great audience thank you from huckabee fox news studios in new york city. >> for the past few weeks i have 48 city scarlet i met several hundred who watch the show every week. there is political gridlock on both parties and many of you are concerned about the country. your kids and grand kids could have a better life in you. the recurring theme i heard over and over was the sense that our leaders weren't leading and they aren't listening. the elections accident a clear message. they said meet the new boss instesame as the old boss. same president, same senate, same house. we truly made have will sunk the titanic. we may have put too much hope in human beings could have solved problems in many cases not nearly as booed good at it. you at least balance your checkbook at home and you pay your bills and you show up for work. washington hasn't balanced it's checkbook. it has to borrow money from the chinese to
. >> virginia congressman randy forge on the president to go over the fiscal cliff. >> gabby douglas on the role of her try iumph. >> governor mike huckabee. >> thank you very much. great audience thank you from huckabee fox news studios in new york city. >> for the past few weeks i have 48 city scarlet i met several hundred who watch the show every week. there is political gridlock on both parties and many of you are concerned about the country. your kids and...
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cliff. we'll show you what is driving the optimism. there is quite a bit of it. plus, possible break in case of the manhattan murder. days after somebody carried out apparent execution on the sidewalk. police found a very important clue miles from the scene. it could help them track down the killer. they need some help. so we'll show you with the help of journalists on fox news with this wednesday "fox report." our new maine stays! 15entrees under $15, seafood, chicken and more! oothe tilapiawith roastedegetab! i'm actually looking at the wo grilled chicken with portobello wine sauce. at pork chop was great! no more fast food friday's! we're going to go to red lobster. yep. [ male announcer ] come try our new menu and sea food differently and introducing 7 lunch choices for just $7.99. salad, sandwiches, and more. military families face, we understan at usaa, we know military life is different. we've been there. that's why every bit of financial advice we offer is geared specifically to curr
cliff. we'll show you what is driving the optimism. there is quite a bit of it. plus, possible break in case of the manhattan murder. days after somebody carried out apparent execution on the sidewalk. police found a very important clue miles from the scene. it could help them track down the killer. they need some help. so we'll show you with the help of journalists on fox news with this wednesday "fox report." our new maine stays! 15entrees under $15, seafood, chicken and more! oothe...
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. >> good tips and good news finally. >>> we're 23 days and counting until the nation falls off the fiscal cliff. president obama and house speaker boehner are going on with negotiations. >> we had another week of massive trash-talking, are we closer or further away from getting a deal? >> they're not really talking right now. that's what's most incredible. there were speeches all week long. lot of ads on television. less than an hour of negotiations. one-hour phone call between to president obama and house speaker boehner. democrats say they're not going to move until the republicans say they're going to be for higher tax rates on the wealthy. and spending cuts. republicans aren't going to come forward until the democrats say more about how they want to cut spending. right now, we're stuck. now, it could be the well that is getting poisoned right now, as positions are going to harden with all of these negotiations they sometimes with most fire before they break. the debt limit, president obama said that he's not going to negotiate at all over the debt limit. i don't know how you can get t
. >> good tips and good news finally. >>> we're 23 days and counting until the nation falls off the fiscal cliff. president obama and house speaker boehner are going on with negotiations. >> we had another week of massive trash-talking, are we closer or further away from getting a deal? >> they're not really talking right now. that's what's most incredible. there were speeches all week long. lot of ads on television. less than an hour of negotiations. one-hour phone...
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>>> there are new development in the fiscal cliff negotiations. cnn has just learned that house republican leaders have sent the white house a counteroffer on tax and entitlement reform. let's bring in our capitol hill senior correspondent dana bash who's got the details. what have we learned? >> we learned that, as you said, the republicans have sent to the white house an offer that they describe as something that is significant with regard to tax and entitlement reform. of course, those are the two tranches that we're talking about here. they are being very -- holding their cards very close to the vest in terms of what specifics these are but apparently it's a counteroffer to something the white house sent to them yesterday. we don't know the details. this is good news for both sides. republicans saying earlier that the white house has to give them more spending cuts. but this is really key because the first thing they have to do, wolf, is get those top line numbers. they are not talking specifics, what kind of tax rates, how much to do. they ar
>>> there are new development in the fiscal cliff negotiations. cnn has just learned that house republican leaders have sent the white house a counteroffer on tax and entitlement reform. let's bring in our capitol hill senior correspondent dana bash who's got the details. what have we learned? >> we learned that, as you said, the republicans have sent to the white house an offer that they describe as something that is significant with regard to tax and entitlement reform. of...
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i'm zoraida sambolin. >> and i'm john berman. 29 minutes past the hour. >>> big news in the fiscal cliff fiasco. john boehner and president obama are finally talking to each other. in 22 days, we go over the cliff's edge, when sweeping tax hikes and spending cuts kick in unless a deal gets done and congress set to go on holiday recess on friday. it must be nice for them. after 23 days of out speaking face to face, president obama and house speaker boehner sat down face to face and had a real-life discussion. i want to bring in white house correspondent brianna killeilar live from washington. we don't have a lot of details. maybe that's a good thing. >> that may be a good thing. the white house and speaker's office putting out a statement really just saying the two men are talking and lines of communication are open. they appear to be talking in good faith. but we don't have any specifics. it's important to notice that this conversation is going on. the president and the speaker, haven't met, have not met for a little over three weeks when they sat down yesterday. and they actually hadn't
i'm zoraida sambolin. >> and i'm john berman. 29 minutes past the hour. >>> big news in the fiscal cliff fiasco. john boehner and president obama are finally talking to each other. in 22 days, we go over the cliff's edge, when sweeping tax hikes and spending cuts kick in unless a deal gets done and congress set to go on holiday recess on friday. it must be nice for them. after 23 days of out speaking face to face, president obama and house speaker boehner sat down face to face...
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the fiscal cliff is about the miasma of spending that we've had under barack obama, $6 billion added to the debt in one term. now we've got a regulatory cliff that is what we're doing with all that new spending which a highly intrusive government that wants to regulate every aspect of our lives. so we've got the epa that is doing this when it comes to water. when it comes to air, we've got the cleanest air in 30 yearsing according to the epa. they have got six new regulations in the coming year that are going to cost -- 1 38 billion in compliance costs to business, and billions more in higher energy bills. you've got the transportation department which is planning a whole host of new regulations that are going to raise the cost of cars and trucks. they want to force everybody to have a rear-facing camera inside their dashboard. so an american family that's struggling to make ends meet has to buy a rear-facing camera because the federal government says so. you've got all the regulations coming under obamacare and all the rest. we are going -- the fiscal cliff is a slow decline compare
the fiscal cliff is about the miasma of spending that we've had under barack obama, $6 billion added to the debt in one term. now we've got a regulatory cliff that is what we're doing with all that new spending which a highly intrusive government that wants to regulate every aspect of our lives. so we've got the epa that is doing this when it comes to water. when it comes to air, we've got the cleanest air in 30 yearsing according to the epa. they have got six new regulations in the coming year...
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. >>> meanwhile, back in washington, with just over three weeks left to make a deal on the fiscal cliff, both sides out with new statents today. and on the surface, they still sound far apart. president obama this morning saying he's going to insist on raising taxes on the wealthiest americans no matter what. >> if we're serious about reducing our deficit while still investing in things like education and research that are important to growing our economy, and if we're serious about protecting middle-class families, then we're also going to have to ask the wealthiest americans to pay higher tax rates. that's one principle i won't compromise on. >> meanwhile, on the other side of the aisle, republican senator marco rubio gave the weekly republican address today. part of his message? the tax rate should not go up on anyone including the top 2%. >> we must reform our complicated, uncertain, job-killing tax code by getting rid of unjustified loopholes. but our goal should be to generate new revenue by creating new taxpayers, not new taxes. >> joining me, author of "the escape artists: how o
. >>> meanwhile, back in washington, with just over three weeks left to make a deal on the fiscal cliff, both sides out with new statents today. and on the surface, they still sound far apart. president obama this morning saying he's going to insist on raising taxes on the wealthiest americans no matter what. >> if we're serious about reducing our deficit while still investing in things like education and research that are important to growing our economy, and if we're serious...
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and avoid the so-called fiscal cliff. and they only have 19 days left. at the same time, the president's short list for secretary of state is even shorter right now, now that the ambassador susan rice has taken her name out of the running to replace hillary clinton. our chief white house correspondent jessica yellin and our senior congressional correspondent, dana bash, they are both standing by. jessica, first to you on the obama/b obama/boehner meeting that's going on what are you hearing? >> the meeting began 50 minutes ago in the oval office, and the purpose of this 11th hour meeting is to see if they can find a breakthrough. to see if there is any way that they can reach a deal in the 11th hour, wolf. for the speaker, that would mean essentially if he can get more spending cuts from the president. if there is a way they can achieve entitlement reform and enough of a spending agreement that would make it worth the speaker's while and able to sell it to his base. for the president, it means, will the speaker give on ta
and avoid the so-called fiscal cliff. and they only have 19 days left. at the same time, the president's short list for secretary of state is even shorter right now, now that the ambassador susan rice has taken her name out of the running to replace hillary clinton. our chief white house correspondent jessica yellin and our senior congressional correspondent, dana bash, they are both standing by. jessica, first to you on the obama/b obama/boehner meeting that's going on what are you hearing?...
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investors appeared optimistic about avoiding the fiscal cliff after president obama suggested that a deal could be reached in about a week. >>> the government issues a new warning about reverse mortgages. those are mortgages that give senior citizen homeowners an immediate cash payment in exchange for future equity. today, the obama administration will recommend congress prohibit large lump sum payments for reverse mortgages. and it will recommend that seniors be very careful before signing one. >>> a new starbucks store is likely coming soon to a neighborhood near you. the coffee giant plans to over 1,500 more cafes over the next 5 years. another 1,500 stores are planned for canada and latin america. starbucks has expansion plans in china and for its product line sold in grocery stores and other vendors. >>> your smartphone will soon be able to send how your feeling and respond proeply. it uses voice features. it was successful about 80% of the time in correctly identifying the emotion. rob, can you tell my emotion right now? >> you sound happy and wide-awake. >> i'm very happy. >>
investors appeared optimistic about avoiding the fiscal cliff after president obama suggested that a deal could be reached in about a week. >>> the government issues a new warning about reverse mortgages. those are mortgages that give senior citizen homeowners an immediate cash payment in exchange for future equity. today, the obama administration will recommend congress prohibit large lump sum payments for reverse mortgages. and it will recommend that seniors be very careful before...
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>> bad news. it's bad news. fiscal cliff, end of the world apparently. >> is it a dangerous cliff? >> it seems to be. >> how do you feel about it? >> i'm a middle class woman what, do you think? >> the economy pew. >> is embarrassing. >> that's what they're paid for. >> what's going to happen if they don't? >> we're going to lose some money. [ laughter ] >> it reminds me of like something i probably learned about in school. but i'm going to guess some type of cliff, like mount avalanche cliff. >> how tall is it? >> i'd say at least like 370 some feet. [ laughter ] >> steve: very nice. >> gretchen: how about $16 trillion? >> we heard 70 different responses. we took the cliff bars out and said, is it this? is this the fiscal cliff? some people said, oh, yeah, it is. another guy said t sounds like something really gross you might eat. another person said it sounds like a movie, the fiscal cliff. >> steve: what i noticed from the sound bites that you used, it seemed like the middle class lady and the older couple knew exactly what it was. whereas some of the younger people, not so much
>> bad news. it's bad news. fiscal cliff, end of the world apparently. >> is it a dangerous cliff? >> it seems to be. >> how do you feel about it? >> i'm a middle class woman what, do you think? >> the economy pew. >> is embarrassing. >> that's what they're paid for. >> what's going to happen if they don't? >> we're going to lose some money. [ laughter ] >> it reminds me of like something i probably learned about in school. but...
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leaders agreed to reach a budget deal to avoid the fiscal cliff. tokyo's nikkei gained a fraction while hong kong's hang seng added a quarter percent. >>> this week the federal reserve is expected to announce a new bond-buying program aimed at lowering interest rates. if it works, it might soften the blow if the nation goes over the fiscal cliff. fed chair ben bernanke has said if a budget deal can't be reached, there's little the central bank can do to offset the shock of those spending increases and tax cuts. >>> a strong sales report from mcdonald's offset wall street's worries about the fiscal cliff negotiations. the dow added 15 points while the nasdaq gained 9 points. >>> hsbc is paying a record $1.9 billion to settle a federal and state money laundering probe. the british bank was under investigation for allegedly transferring billions of dollars on behalf of iran which is under international sanctions. hsbc is also alleged to have laundered money from mexican drug cartels. under the terms of the settlement, the bank will avoid criminal pros
leaders agreed to reach a budget deal to avoid the fiscal cliff. tokyo's nikkei gained a fraction while hong kong's hang seng added a quarter percent. >>> this week the federal reserve is expected to announce a new bond-buying program aimed at lowering interest rates. if it works, it might soften the blow if the nation goes over the fiscal cliff. fed chair ben bernanke has said if a budget deal can't be reached, there's little the central bank can do to offset the shock of those...
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. >>> president obama and house speaker boehner met at the white house to try to avoid the fiscal cliff. >>> an outpouring of grief overnight following the death of latin singing superstar jenny rivera. she and six others were killed over the weekend when their plane crashed in mexico. >>> thunderstorms from the ohio valley to new orleans. afternoon rain in the northeast. >>> and finally this morning, if you're in the market for one of those hideously over-the-top christmas sweaters, we have the solution. >> that rests with one online entrepreneur. valerie hurs has the details. >> reporter: andrew has an entire room this his house full of colorful, festive swerts. some of them, just plain ugly. >> i would reminisce about a school teemp, somebody there church who would wear these really gaudy speweaters. >> reporter: he's selling them to people who want to attend ugly christmas sweaters party. last year, he tried to throw one himself. but couldn't find a lot of sweaters to choose from. >> i'm not doing this. >> reporter: this year, he's ready. and wants to help you be ready, too. >> i op
. >>> president obama and house speaker boehner met at the white house to try to avoid the fiscal cliff. >>> an outpouring of grief overnight following the death of latin singing superstar jenny rivera. she and six others were killed over the weekend when their plane crashed in mexico. >>> thunderstorms from the ohio valley to new orleans. afternoon rain in the northeast. >>> and finally this morning, if you're in the market for one of those hideously...
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if the white house fail to take action to avert the fiscal crisis or the cliff. president obama tock his message on the road speaking to auto workers to talk about the plan to cut taxes that will go into effect on january 1st if congress fails to act. >> what you need is a package that keeps taxes where they are for middle class families. we make some tough spending cuts on things that we don't need and then we ask the wealthiest americans to pay a slightly higher tax break. >> the president met privately with house speaker john boehner to discuss the matter. in a statement to fox business about that meeting speaker boehner's spokesman said discussions with the white house are taking place but we have no detail to share about the conversations. the republican offer made last week remains a republican offer. we continue to wait for the president to identify the spending cuts he has as part of the balanced approach he promised the american people. if they are going to reach a deal, there is still a lot of work to be done and very little time to do it. experts say a
if the white house fail to take action to avert the fiscal crisis or the cliff. president obama tock his message on the road speaking to auto workers to talk about the plan to cut taxes that will go into effect on january 1st if congress fails to act. >> what you need is a package that keeps taxes where they are for middle class families. we make some tough spending cuts on things that we don't need and then we ask the wealthiest americans to pay a slightly higher tax break. >> the...
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cliff. tonight no word any real progress being made but the pressure to do something before it is too latest really intensifying across the country. story now from political reporter mark matthe matthews. >> message from move on bay area progressive cut the bush era tax cut for the wealthiest americans and do not cut social security and medicare benefits. >> we absolutely have to stick firm and make sure that we tax the rich. people making over 200,000 dollars. [applause] people making over 200,000 dollars a year should be able to pay more and to get us out of this economic mess that wall street has done. >>reporter: this afternoon about 50 people gathered outside the social security administration office in oakland east town center. among them oakland congressman lee. >> i tell you i'm going back to washington, d.c. tomorrow. to continue to fight the good night and you have a resistance movement in the congress. i want you to know. [applause]. >>reporter: she will resist cut to spweelingtsm
cliff. tonight no word any real progress being made but the pressure to do something before it is too latest really intensifying across the country. story now from political reporter mark matthe matthews. >> message from move on bay area progressive cut the bush era tax cut for the wealthiest americans and do not cut social security and medicare benefits. >> we absolutely have to stick firm and make sure that we tax the rich. people making over 200,000 dollars. [applause] people...
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last year congress and the white house backed military cuts and the new fiscal cliff counteroffer to president obama is hinting at billions more. $500 billion over the next ten years! in addition to the stuff they already cut. joining us now it expand this fox news contributor and author of "heros proved," colonel oliver north. he says this could be an unmitigated disaster for national security. as you travel around in the bus on the book tour, this has got to be bothering you more than anything else. this is your legacy. these are the people that you've covered and this is how prepared we are for a future conflict. >> just over the weekend we saw the rescue of an american doctor from colorado in afghanistan by a u.s. navy raid seal team. right? same guys i was with just a few weeks ago out in afghanistan working with afghan troops. what you're about to see in this sequester are cuts that will make those operations impossible. benghazi. people were talking why didn't they react to benghazi? because there was no marine expedition in the area. that will become commonplace with sequeste
last year congress and the white house backed military cuts and the new fiscal cliff counteroffer to president obama is hinting at billions more. $500 billion over the next ten years! in addition to the stuff they already cut. joining us now it expand this fox news contributor and author of "heros proved," colonel oliver north. he says this could be an unmitigated disaster for national security. as you travel around in the bus on the book tour, this has got to be bothering you more...
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cliff holding some employers back tomorrow. >> so bad news? >> we'll see. >> for now we all know the siren mogul. >> but the ceo, howard schultz, some sobering advice to offer on the looming fiscal cliff. the consequences will be worse than last area's debt ceiling fight, when the u.s. credit rating was downgraded for the first time ever. his message to lawmakers, now is not the time to play politics. you've got to do the right thing for the american people. >> i think if people would get in the room and leave their ego behind and not be so skewed towards the party, but be so sensitive to the lens to have the american people, we will have an agreement. >> poppy harlow joins us now with more of her conversation with howard schultz. much of the conversation has been about, you know, what's the best thing to do for this country, but it's a globe -- he says the whole world is watching. >> yeah, that it has massive consequences for the entire world. but you want to ask someone like howard schultz who runs a big global company like starbucks, how do
cliff holding some employers back tomorrow. >> so bad news? >> we'll see. >> for now we all know the siren mogul. >> but the ceo, howard schultz, some sobering advice to offer on the looming fiscal cliff. the consequences will be worse than last area's debt ceiling fight, when the u.s. credit rating was downgraded for the first time ever. his message to lawmakers, now is not the time to play politics. you've got to do the right thing for the american people. >> i...
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could be a fiscal cliff. the gulf is hotter than it's ever been even a few years ago it was ice cold. >> big story in the journal about exploration in this country. production 15-year high. brand new chapter here. look at the bottom of your screen. citigroup is cutting 11,000 jobs. we want to get to kayla tausche with more on that. >> we have a release that just hit the wire in citigroup where those jobs are coming from and a charge that the company plans to take in the fourth quarter because of these job cuts even though it expects them to generate $900 million in cost savings next year. interestingly this is the first move toward really slimming down citi by the new ceo. he has a quote in here saying these actions are logical next steps in citi's transformation and says they're committed to strategy that continues to leverage in the global banking market. if you go through the list of where these jobs are actually coming from, institutional clients group which is investment banking a quarter of the job cuts
could be a fiscal cliff. the gulf is hotter than it's ever been even a few years ago it was ice cold. >> big story in the journal about exploration in this country. production 15-year high. brand new chapter here. look at the bottom of your screen. citigroup is cutting 11,000 jobs. we want to get to kayla tausche with more on that. >> we have a release that just hit the wire in citigroup where those jobs are coming from and a charge that the company plans to take in the fourth...
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we've got the looming fiscal cliff, unrest overseas in egypt and syria. lots to talk about with politics to the macks. get it? that's my new title. wrapping up their time in office is husband and wife team connie mack of california and representative mary mack of florida. senator bob corker on sunday seemed to be setting a conciliatory tone between republicans, saying, yes, maybe in fact these tax hikes for the wealthy will go through. let's play a little bit of what he said first. >> there is a growing group of folks that are looking at this and realizing we don't have a lot of cards as it relates to the tax issue before year end. a lot of people are putting forth a theory -- and i actually think it has merit -- where you go ahead and give the president the 2% increase that he's talking about. it's actually much lesser tax increase than what he's been talking about. the focus then shifts to entitlements, and maybe that puts us in a place where we actually can do something that really saves this nation. >> so it sounds like maybe the tax cuts that we've b
we've got the looming fiscal cliff, unrest overseas in egypt and syria. lots to talk about with politics to the macks. get it? that's my new title. wrapping up their time in office is husband and wife team connie mack of california and representative mary mack of florida. senator bob corker on sunday seemed to be setting a conciliatory tone between republicans, saying, yes, maybe in fact these tax hikes for the wealthy will go through. let's play a little bit of what he said first. >>...
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we're awaiting for speaker boehner and update on talks and negotiations for the fiscal cliff. as soon as he steps to the microphone we'll bring you there. we'll be back with more "happening now". jon: speaker of the house john boehner beginning his weekly news update. >> the president still has not made an offer that meets those two standards but republicans have. while the president promised the american people a balanced approach hess proposals have been anything but. he wants far more in tax hikes than in spending cuts. instead of beginning to solve our debt problem he wants new stimulus spending and the ability to raise the debt limit whenever he wants without any cuts or reforms. that's clear the president is just not serious about cutting spending, but spending is the problem. how big of a problem? look at this chart put together by paul ryan and the budget committee. this line is the current baseline for revenue. here if the president got everything he wanted, over $1.4 trillion in taxes, this is what that would represent. but if you look at the spending problem, you se
we're awaiting for speaker boehner and update on talks and negotiations for the fiscal cliff. as soon as he steps to the microphone we'll bring you there. we'll be back with more "happening now". jon: speaker of the house john boehner beginning his weekly news update. >> the president still has not made an offer that meets those two standards but republicans have. while the president promised the american people a balanced approach hess proposals have been anything but. he wants...
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cliff. we'll hear from harry reid and mitch mcconnell. c-span3, the impact of hurricnae ane sandy. a bipartisan group of senators spoke to reporters today about the civil war in syria and the potential use of force against the regime of bashar al-assad. >> good afternoon. i'm here with my colleagues from the senate, senator lieberman, senator gramm. -- graham. we are deeply disturbed by reports that bashar al-assad may have lionized -- weaponized some of his stores of chemical and biological agents and prepare them for use in aerial bombs. these reports also suggest that his forces are awaiting orders to use these weapons. if true, these reports may mean that the united states and our allies are facing the prospect of an eminent use of weapons of mass destruction and syria, and this may be the last warning we get. time for talking about what to do may now be coming to a close, and we may instead be left with an awful and it's very difficult decision. whether to continue on the sidelines and
cliff. we'll hear from harry reid and mitch mcconnell. c-span3, the impact of hurricnae ane sandy. a bipartisan group of senators spoke to reporters today about the civil war in syria and the potential use of force against the regime of bashar al-assad. >> good afternoon. i'm here with my colleagues from the senate, senator lieberman, senator gramm. -- graham. we are deeply disturbed by reports that bashar al-assad may have lionized -- weaponized some of his stores of chemical and...
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boehner and president obama met sunday to discuss the fiscal cliff. republicans and democrats have been deadlocked on how to stop tax hikes and spending cuts that are set to kick in at the beginning of the year. >>> dallas cowboys defensive lineman josh brent has been released from jail after posting half a million dollars bail. he is being charged in the death of his teammate and close friend jerry brown. police say he was drunk awhen h wrecked the car that killed brown. >>> morsi rescinded much of the de krch decree. a disputed draft of the constitution for the country. >>> mandy drew is at the new york stock exchange. good morning to you, mandy. >> good morning, natalie. lots of headwind from overseas, political shakeup in italy and sharply slowing down chinese export growth, keeping u.s. traders on edge not to mention the vagaries of the fiscal cliff. markets move with progress or lack of progress as the case may be. the congressional budget office says we could be back in recession the first half of next year if a deal is not reached. those are t
boehner and president obama met sunday to discuss the fiscal cliff. republicans and democrats have been deadlocked on how to stop tax hikes and spending cuts that are set to kick in at the beginning of the year. >>> dallas cowboys defensive lineman josh brent has been released from jail after posting half a million dollars bail. he is being charged in the death of his teammate and close friend jerry brown. police say he was drunk awhen h wrecked the car that killed brown. >>>...
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for the same service. >>> warning, fiscal cliff ahead. did you see that? we go to politics head. the nation edging closer to the fiscal cliff and with 19 days to go there is no deal, outlining what he calls "deliberate and frank talks with president obama" house speaker john boehner says both sides remain far apart. joining me is cnn analyst roland martin and cnn contributor will cain. to roland first. is this a real stalemate or is this all about posturing? >> it's a real stalemate. obviously republicans who clearly do not want to raise taxes on anybody, the president's made it perfectly clear that i won, i have a mandate and we are not going to continue doing this. also keep in mind the bush cuts contributed to our deficit so it's interesting to hear folks say we should continue them but they didn't say let's cut the deficit when they contribute it according to the cbo. i think the president certainly has more referage on his side and republicans know it and trying to hold out as best as they can. in the end he'll get his wish. >> who i
for the same service. >>> warning, fiscal cliff ahead. did you see that? we go to politics head. the nation edging closer to the fiscal cliff and with 19 days to go there is no deal, outlining what he calls "deliberate and frank talks with president obama" house speaker john boehner says both sides remain far apart. joining me is cnn analyst roland martin and cnn contributor will cain. to roland first. is this a real stalemate or is this all about posturing? >> it's a...
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it seems like quietly we're making progress on the fiscal cliff, people are saying garbage out in public. john boehner sitting down with the president, seems these two men are getting the job done. >> i think it is real. the president, no public events yesterday. even yesterday's event was never designed to be a fiscal cliff photo-op. there are very few fiscal cliff photo-ops planned this week. it is serious business. they have to come to a framework at the end of this week if they're going to get it written in time and passed in time so they all don't have to spend christmas in washington. joe, realize, whatever deal they agree to, it will be very fragile and it's likely to include more triggers for the end of next year. so they'll agree to some tax reform. if they can't write it, then say the highest tax rate will move from 37 to 39. on entitlements, they'll agree they have to find a certain amount of money and special commission but if they don't agree to it maybe the eligibility age goes automatically up. they'll be sort of sequester triggers to force the action so the deal whatever
it seems like quietly we're making progress on the fiscal cliff, people are saying garbage out in public. john boehner sitting down with the president, seems these two men are getting the job done. >> i think it is real. the president, no public events yesterday. even yesterday's event was never designed to be a fiscal cliff photo-op. there are very few fiscal cliff photo-ops planned this week. it is serious business. they have to come to a framework at the end of this week if they're...
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first, the bad news, it is just tweet days until the fiscal cliff deadline. the good news, only 17 days the mayans say we're all going to die so who cares about the fiscal cliff! exactly. >> we would like to announce we have reached an agreement to avoid a fiscal cliff. in order to get the support of the speaker, i agree there will be no tax increases. i repeat, zero tax increases. now, why would i do that? i mean, i won the election. ( laughter ) i have the leverage. why give in? well, simply put-- i felt sorry for this man. >> is there a prospect for a deal? >> there's not a prospect for a deal. >> of course! it. >> the ongoing talks. >> there aren't even very many talks going on. ( laughter ) >> you're kidding us! give us something! >> but for the first time, there are numbers on pieces of paper from both sides. >> numbers on paper! ( cheers and applause ) ( laughter ) >> schieffer: that is our "face the nation" flashback. one note to major garrett. major, i was here 10 years before people thought i was important enough, and you are off to a fine start. >>
first, the bad news, it is just tweet days until the fiscal cliff deadline. the good news, only 17 days the mayans say we're all going to die so who cares about the fiscal cliff! exactly. >> we would like to announce we have reached an agreement to avoid a fiscal cliff. in order to get the support of the speaker, i agree there will be no tax increases. i repeat, zero tax increases. now, why would i do that? i mean, i won the election. ( laughter ) i have the leverage. why give in? well,...
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>> it's all about fiscal cliff, but today we got a piece of market moving news. the real lever at these banks right now is cost cutting. we got a very big announcement. if you listen to the presentations at goldman's financial services conference, you heard cost cutting as a theme across the board. you thaerd at bank of america. you heard it at pnc. of course, citi, the granddaddy of them all with 11,000 job cuts, really moves the needle. that will help earnings quite a bit next year. >> it's amazing. you see this rally in the financials, yet it's because people are being cut right before christmas, and that's unfortunate. >> you know how wall street works. it's all about the bottom line. >> how about business? not just wall street. >> wall street is all about the bottom line. i like to see this cost cutting that's taking place to increase earns and profitability. i also simultaneously want to see some top-line growth as well. i think that the banks are if search of some more top-line growth with different product performances. i kiepds of like more of the region
>> it's all about fiscal cliff, but today we got a piece of market moving news. the real lever at these banks right now is cost cutting. we got a very big announcement. if you listen to the presentations at goldman's financial services conference, you heard cost cutting as a theme across the board. you thaerd at bank of america. you heard it at pnc. of course, citi, the granddaddy of them all with 11,000 job cuts, really moves the needle. that will help earnings quite a bit next year....
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new one two and a half years ago two men former u.s. senator alan simpson are republican and former white house chief of staff for president clinton erskin bowles a democrat came up with a possible solution what they came up with is known to those even outside of the ball outside the beltway as the simpson bowles or the bull simpson plan depending on which way you see it and despite falling short of passing it off and took center stage and talks about the economy for most of the year expression leave during the presidential campaign governor what about simpson bowles you support simpson bowles simpson bowles the president should have grabbed that i mean do you support some simple i have my own plan it's not the same as in symbols but in my view the president should have grabbed it if you want to make some adjustments to that take it go to congress fight for it that's what we've done made some adjustments to it and we're putting it forward before congress right now but even though you everyone now has now heard of the plan very few peopl
new one two and a half years ago two men former u.s. senator alan simpson are republican and former white house chief of staff for president clinton erskin bowles a democrat came up with a possible solution what they came up with is known to those even outside of the ball outside the beltway as the simpson bowles or the bull simpson plan depending on which way you see it and despite falling short of passing it off and took center stage and talks about the economy for most of the year expression...
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we had another fiscal cliff types of new with the debt limit to create a center that led to this ridiculous idea that i voted against that let's put a bunch of bad things to happen at one time because that will force washington to do something. surprise, it didn't work. here we are again. so we have to issues. number one is an immediate term to avoid doing damage. that's to avoid doing harm. so we need to look for a way to accomplish that in the short term. then we have had a conversation about getting the fiscal house in order it's just fundamentally true. we spend a trillion dollars a year more than we take in to assist attack. i approached this issue that the only way we can get that in order is to rapid economic growth. there's no taxes to raise. what the presidential post does not raise enough revenue, but it will make a dent on job creation, particularly middle-class job creation. so that's why i oppose this blanket instead i think we should do real tax reform. if there are loopholes, there's a loophole for being able to write off your yacht of your second home in interest. let's go a
we had another fiscal cliff types of new with the debt limit to create a center that led to this ridiculous idea that i voted against that let's put a bunch of bad things to happen at one time because that will force washington to do something. surprise, it didn't work. here we are again. so we have to issues. number one is an immediate term to avoid doing damage. that's to avoid doing harm. so we need to look for a way to accomplish that in the short term. then we have had a conversation about...
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by the fiscal cliff. how much pressure does this additional pressure put on republicans, seeing chris christie show up at the white house knowing that he needs money for his hard-hit state? >> it's a tremendous amount of pressure. part of what the strategy of think of what we're see hearing is the republicans are becoming increasingly isolated. you think about the discharge position. essentially even if they don't sign on to it, the point is they're going to own this mess. they're the ones who are seen to be, as the public suggests, not willing to make a deal. it is not unreasonable. we've all seen those horrifying images from the devastation of hurricane sandy. it's not unreasonable the governor of the state of new jersey would come and say i need help. americans are going to see that. they see the republicans becoming increasingly sort of isolated and, again, it becomes this question of why are you holding the rest of us hostage for the top 2%? so the problem for the republicans is they don't have a lot
by the fiscal cliff. how much pressure does this additional pressure put on republicans, seeing chris christie show up at the white house knowing that he needs money for his hard-hit state? >> it's a tremendous amount of pressure. part of what the strategy of think of what we're see hearing is the republicans are becoming increasingly isolated. you think about the discharge position. essentially even if they don't sign on to it, the point is they're going to own this mess. they're the...
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on the fiscal cliff. judge andrew napolitano. fox news senior judicial analyst. juan williams, columnist with tannehill. byron york from the "washington examiner." judge, what do you make of this? we had back and forth and we talk about this every day. every day there are developments. >> the president insistence on raising tax rate is reprehensible and violates economics 101. raising tax rates will not necessarily produce more revenue. the president is more interested to punish the rich and perceived reward for base. doesn't put more money in the federal treasury. the republicans give in to this in spirit of compromise, i respect alan simpson. but this is a time for the republicans to say no to spending no, borrowing. no to taxes. do you any any republicans sent to congress to facilitate the president spending to us oblivion? they no. or they will be sent home. >> president feels like he was elected on a campaign where he mentioned on the stump many times, raising tax rates. >> i understand that. >> but under our system the congress writes the law and president
on the fiscal cliff. judge andrew napolitano. fox news senior judicial analyst. juan williams, columnist with tannehill. byron york from the "washington examiner." judge, what do you make of this? we had back and forth and we talk about this every day. every day there are developments. >> the president insistence on raising tax rate is reprehensible and violates economics 101. raising tax rates will not necessarily produce more revenue. the president is more interested to punish...
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melissa: for a moment forget what you're hearing to avoid the fiscal cliff, balance the budget and decrease the deficit. there is a new idea, new, being floated by a powerful group of democrats that claims to overhaul the tax code with a huge payoff. who wouldn't like that? the plan purports to raise an additional 1.8 trillion dollars over the next 10 years, that is 200 dal billion more than the president proposed andd3 trillion more than the republicans in congress support. we want to get to the bottom of it on "money." here to crunch the numbers, michael lind den from the center for american progress which is the group that devised the plan. we have mary katharine ham, fox news contributor. thanks to you both for joining us. michael, since you're one of the men behind the plan, i want to go to first. break it down for me. how do you get there? >> well the basic idea we'll simplify the tax code. we're going to get rid of some of the deductions that currently benefit, they more benefit high income individuals than middle income individuals. we'll turn those into credits that will be flatter
melissa: for a moment forget what you're hearing to avoid the fiscal cliff, balance the budget and decrease the deficit. there is a new idea, new, being floated by a powerful group of democrats that claims to overhaul the tax code with a huge payoff. who wouldn't like that? the plan purports to raise an additional 1.8 trillion dollars over the next 10 years, that is 200 dal billion more than the president proposed andd3 trillion more than the republicans in congress support. we want to get to...
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support than the rank and file before, in fact, giving him flexibility to cut a fiscal cliff deal. the first read team is asking the question how big of a deal will we see? governor christie meets with president obama this time at the white house, and it is just one of the things we thought you should know. be sure to check out our "news nation" tumblr page. you find behind the scenes pictures, and thank you for checking it out and liking our pictures. ♪ ♪ [ male announcer ] campbell's green bean casserole. it's amazing what soup can do we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. [ man thinking ] oh, this gas. those antacids aren't working. oh no, not that, not here! [ male announcer ] antacids
support than the rank and file before, in fact, giving him flexibility to cut a fiscal cliff deal. the first read team is asking the question how big of a deal will we see? governor christie meets with president obama this time at the white house, and it is just one of the things we thought you should know. be sure to check out our "news nation" tumblr page. you find behind the scenes pictures, and thank you for checking it out and liking our pictures. ♪ ♪ [ male announcer ]...